Red metal en­ters JV with MMG

The Australian Mining Review - - NEWS -

JU­NIOR ex­plorer Red Metal has inked a joint ven­ture (JV) agree­ment with Chi­nese-backed MMG to ad­vance its prospec­tive Mal­la­pun­yah zinc project in the McArthur Basin re­gion of the NT.

Un­der the agree­ment MMG will wrap up land ac­cess ne­go­ti­a­tions for Red Metal’s ten­e­ments and have the right to earn-in a 70 per cent stake by com­plet­ing a Bank­able Fea­si­bil­ity Study within seven years.

Ex­plo­ration at the project will tar­get zinc-lead-sil­ver de­posits sim­i­lar to the gi­ant McArthur River and Cen­tury mines.

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